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The Meaning of the Long-Run Ratio of Saving to Social Income

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  • Attilio Trezzini

Abstract

The ratio of saving to social income is generally conceived as the result of stable patterns of individual and institutional decisions to save. In a theoretical context in which aggregate demand is recognized as playing a part in the growth process positing a general assumption on consumption, it is possible to argue, instead, that the ratio of saving to income is also strongly affected by the incentive to invest. It is further argued, however, that without the assumption of steady-state conditions, the ratio of saving to income cannot be conceived as a magnitude in a precise relationship to the rate of accumulation or to any other single specific phenomenon.

Suggested Citation

  • Attilio Trezzini, 2012. "The Meaning of the Long-Run Ratio of Saving to Social Income," Departmental Working Papers of Economics - University 'Roma Tre' 0151, Department of Economics - University Roma Tre.
    • Handle: RePEc:rtr:wpaper:0151
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    References listed on IDEAS

    as
    1. Joan Robinson, 1962. "Essays in the Theory of Economic Growth," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00626-7, December.
    2. Trezzini, Attilio, 1998. "Capacity Utilisation in the Long Run: Some Further Considerations," Contributions to Political Economy, Cambridge Political Economy Society, vol. 17(0), pages 53-67.
    3. Garegnani, Pierangelo, 1984. "Value and Distribution in the Classical Economists and Marx," Oxford Economic Papers, Oxford University Press, vol. 36(2), pages 291-325, June.
    4. Garegnani, Pierangelo, 1979. "Notes on Consumption, Investment and Effective Demand: II," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 3(1), pages 63-82, March.
    5. Antonella Palumbo & Attilio Trezzini, 2003. "Growth without normal capacity utilization," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 10(1), pages 109-135.
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    More about this item

    Keywords

    Saving ratio; Economic Growth; Cyclical Fluctuations and Trends;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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